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Shares of Anworth Mortgage Asset Rise Above Previous 52-Week High

By Amy Schwartz

Anworth Mortgage Asset (NYSE:ANH) traded at a new 52-week high today of $6.21. This new high was reached on below average trading volume as 84,000 shares traded hands, while the average 30-day volume is approximately 530,000 shares.

Anworth Mortgage Asset (NYSE:ANH) is currently priced 11.4% above its average consensus analyst price target of $5.50. The stock should discover initial support at its 200-day moving average (MA) of $4.73 and subsequent support at its 50-day MA of $4.71.

Anworth Mortgage Asset Corporation invests in agency mortgage assets, including mortgage pass-through certificates, collateralized mortgage obligations, and other real estate securities. The Company acquires mortgage assets primarily in the secondary mortgage market. Anworth uses short-term borrowings as collate ral to acquire additional mortgage assets.

In the past 52 weeks, shares of Anworth Mortgage Asset have traded between a low of $3.66 and a high of $6.21 and are now at $6.21, which is 70% above that low price. In the last five trading sessions, the 50-day moving average (MA) has remained constant while the 200-day MA has slid 0.2%.

SmarTrend recommended that subscribers consider buying shares of Anworth Mortgage Asset on February 17th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $4.47. Since that recommendation, shares of Anworth Mortgage Asset have risen 38.3%. We continue to monitor ANH for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: 52 week high/lows anworth mortgage asset

Ticker(s): ANH